Crypto Now Legal In India?

[kartel616]

the development of crypto in India in my opinion will develop rapidly, for now we can see many top influencers and traders from India who can drive the development of crypto there. But for the legality that is always blamed by the Indian government, in my opinion the Indian government is only afraid of the potential of Crypto, they are afraid that people will switch to crypto rather than fiat and make their banks suffer enough losses

[acroman08]

Indian Government allowing Crypto to convert with INR through their Banks, this is really a good step by them, They are doing such because there have a big number of community attached with blockchain development and crypto world from India. Its kind of an opportunity for Indian crypto community to proof their ability and improve themselves at Blockchain using cryto.

This is certainly good news for Indian citizens, of course, by accepting crypto as part of a legal transaction in their country.
this news will certainly make crypto better known by many countries which may not have implemented directly that the country can benefit from the crypto reception.

India hasn't made cryptocurrency legal in their country, yet. as a matter of fact, India has presented a law that can potentially ban bitcoin/cryptocurrency in their country.

EDIT: upon searching a bit more it looks like India did announce bitcoin that cryptocurrency is legal but also found out that they are also reconsidering banning it again.
https://news.bitcoin.com/indian-government-banning-cryptocurrency/

it is natural that India can accept crypto, because we have to admit that they are one of the leading countries in the field of technology. so in fact they must be pioneers to be able to introduce to the countries around them that crypto is very profitable and can help the country's economy.

India is not or even one of the leading country in the technological field. although there are a lot of innovative Indians their country is still not leading in the technological field. (no offence to any Indian that are here In the forum)

[Zackgeno96]

I'm so confused about India's idea about how they deal with the cryptocurrency, if they will legalize it or not.

They lack of affirmation whether they will allow people to use cryptocurrency or not.

Just like other countries, their decision towards cryptocurrency should be finalize so that it don't make any confusion or dismay to the people who are hoping for it to become legalized. Maybe their country is not that prepared regarding the proper regulation of cryptocurrencies into their economy. Probably, they lack of knowledge and experience in allowing it to regulate in the market that's why their decision is not that secured.

The Indian government lacks a crypto regulatory body and also that crypto is pretty new to Indian society unlike other societies the Indian government isn't stressing towards cryptocurrency or blockchain adaption. Even the Central bank of India is against the use of cryptocurrencies in the country and is having a case in the court regarding the banning of the use of crypto and related items in India. The Court has ruled in favour of crypto users once after which the 2-year long ban was lifted off and now we will see what happens in the future hearings and that will decide the fate of cryptocurrencies in India.

[jpnl0006]

the case of crypto ban in india has never made me curious as i already know the end result. india is also another hub of technology when the whole world is ranked. if anyone was to embrase technology, he/she will definitely need developers from that region. judging from that fact, it is almost impossible for india to do without the technology as it is in direct parrallel bias with their trend.

[7788bitcoin]

I'm so confused about India's idea about how they deal with the cryptocurrency, if they will legalize it or not.

They lack of affirmation whether they will allow people to use cryptocurrency or not.

The confusion stems from the fact that you see many articles with contradicting views, one says India is going to legalize bitcoin and the other one says they are planning to ban bitcoin, the problem is only one can be true and i do not see any article that says that it is legal which means there is a law written for cryptocurrency but there was a ban on exchanges and that was overturned when the exchanges approached the court.

[Mrengage]

I am seeing most indian base project are also making some noise right now.

I think this is expected. India un-banning the use of cryptocurrency will definitely have a positive impact on crypto people and would surely develop more projects for the crypto community. I just wish it isn't a copy cat of what we had in the past years. I'm really tired of looking for projects who only turn to a shit coin after some time. 

I have a whole lots of those projects in my wallet just steering at me, with the hopes that's they will turn a furtune in future. But come to think of it HODL is not a scam just like when people underestimate it. Few have paid off big time. Crypto is making its way through and for sure it will make more waves.

[Timmzzy]

I'm so confused about India's idea about how they deal with the cryptocurrency, if they will legalize it or not.

They lack of affirmation whether they will allow people to use cryptocurrency or not.

Just like other countries, their decision towards cryptocurrency should be finalize so that it don't make any confusion or dismay to the people who are hoping for it to become legalized. Maybe their country is not that prepared regarding the proper regulation of cryptocurrencies into their economy. Probably, they lack of knowledge and experience in allowing it to regulate in the market that's why their decision is not that secured.

Out here in Africa (Nigeria) bitcoin ATMs is already trending, so if India is to legalised Crypto I bet it's a welcome development and a perfect adoption from my end.

[CarnagexD]

I'm so confused about India's idea about how they deal with the cryptocurrency, if they will legalize it or not.

They lack of affirmation whether they will allow people to use cryptocurrency or not.

Just like other countries, their decision towards cryptocurrency should be finalize so that it don't make any confusion or dismay to the people who are hoping for it to become legalized. Maybe their country is not that prepared regarding the proper regulation of cryptocurrencies into their economy. Probably, they lack of knowledge and experience in allowing it to regulate in the market that's why their decision is not that secured.

I though that they already adopted the use of cryptocurrency in the market on March this year.

They are still having a conflict again with their government doubting the legalization of cryptocurrency in their country as they are really not that into a more digital currency to regulate in the market. For me, if you really want to learn something, you will try and see the effects or results from it for you to continue. I'm hoping that they already realize those benefits and advantages of cryptocurrency in the economy to help them grow and have a stable economy. The Court should really have a wise and finalize decision regarding India's approach towards the use of cryptocurrency in everyday lives.

[Reatim]

I'm so confused about India's idea about how they deal with the cryptocurrency, if they will legalize it or not.

They lack of affirmation whether they will allow people to use cryptocurrency or not.

Just like other countries, their decision towards cryptocurrency should be finalize so that it don't make any confusion or dismay to the people who are hoping for it to become legalized. Maybe their country is not that prepared regarding the proper regulation of cryptocurrencies into their economy. Probably, they lack of knowledge and experience in allowing it to regulate in the market that's why their decision is not that secured.

I though that they already adopted the use of cryptocurrency in the market on March this year.

yes they are already accepted Crypto last march but the  banking companies are still against the legalization for obvious reason since people don't trust them anymore and crypto is what  Indian people looking forward to have as investment and savings as well.

This argument will stay forever in India until the realization from the banks happen and they admit to adopt crypto instead of going against it.

[pakhitheboss]

I'm so confused about India's idea about how they deal with the cryptocurrency, if they will legalize it or not.

They lack of affirmation whether they will allow people to use cryptocurrency or not.

Just like other countries, their decision towards cryptocurrency should be finalize so that it don't make any confusion or dismay to the people who are hoping for it to become legalized. Maybe their country is not that prepared regarding the proper regulation of cryptocurrencies into their economy. Probably, they lack of knowledge and experience in allowing it to regulate in the market that's why their decision is not that secured.

I though that they already adopted the use of cryptocurrency in the market on March this year.

yes they are already accepted Crypto last march but the  banking companies are still against the legalization for obvious reason since people don't trust them anymore and crypto is what  Indian people looking forward to have as investment and savings as well.

This argument will stay forever in India until the realization from the banks happen and they admit to adopt crypto instead of going against it.

The Indian banking system is the worst in the world. Most government-backed banks are in trouble as they have a large pile of debt because of bad loans and big scams.

Private sector Banks are also going through the same phase. With all this happening most investors are moving away and investing in the cryptocurrency market.

This has become a concern for the banks and they are now trying their level best to get cryptocurrency banned in India.

[darewaller]

I'm so confused about India's idea about how they deal with the cryptocurrency, if they will legalize it or not.

I don't think they ever would because there are already a massive number of tax evaders and if you allow crypto payments to be legal then there will be a terrible situation as no one would keep their money in bank rather just keep in bitcoins and evade taxes.

Just like other countries, their decision towards cryptocurrency should be finalize so that it don't make any confusion or dismay to the people who are hoping for it to become legalized. Maybe their country is not that prepared regarding the proper regulation of cryptocurrencies into their economy. Probably, they lack of knowledge and experience in allowing it to regulate in the market that's why their decision is not that secured.

The reason why there has been so much confusion and ambiguity around bitcoins in India is because the lack of knowledge by the government whether it is in their interest and how it works and the possible problems if they are legalized. The government never had the proper committee who would review and take a solid decision.

They lack of affirmation whether they will allow people to use cryptocurrency or not.

From what I have understood so far they have allowed transactions to be made in crypto but they do not consider bitcoins as a legal tender.